Jay-Z and Beyoncé may have made headlines at the 2024 Grammy Awards show Sunday night, but it’s these Hamptons homeowners’ real estate moves that still have us fascinated.
While the hip-hop mogul questioned the voting process — and how his wife hadn’t won in the past — while accepting the second annual Dr. Dre Global Impact Award, a recent report delves into the topic of real moves.
The Agent Advice report shows how the power couple topped the list of musicians who made the biggest property moves of 2023. The designation wasn’t for their Hamptons property but for their whopping $190 million purchase in Malibu.
When the Carters closed on the property in May, it became the most expensive home ever sold in the entire state of California and the second-most expensive real estate deal ever in the United States.
Described as a “colossal concrete compound” the staggering 40,000-square-foot residence sits on an eight-acre spread along the famed Pacific Coast Highway. There is a private beach, an infinity pool and other water features.
Renowned Japanese architect Tadao Ando designed the mega-mansion, which took a reported 15 years to build.
In 2017, Jay-Z and Beyoncé purchased a $26 million pondfront estate in the Georgia section of East Hampton, next to a 17-acre preserve. Seems like a small purchase in comparison to the $190 million one.
Perhaps that’s because they are now the wealthiest celebrity couple in the country with a total net worth of $3.04 billion, according to research conducted by Arka. Jay–Z is noted as the first hip-hop billionaire, with a personal net worth of $2.5 billion, and Beyoncé has a net worth of half a billion, the study says.
In 2021, they wanted to purchase a vacant 2.7-acre parcel next to their East Hampton home on Georgica Pond, but the Peconic Land Trust got first dibs.
The real estate experts at Agent Advice put together a comprehensive report of 80 property trades involving music stars from January to December 2023.
Coming in second on the list of chart-topping real estate moves is Drake’s attempt to sell his Beverly Hills mansion for $88 million and Rod Steward, who has re-listed his home for $80 million.l
The company says that music star properties are, on average, listed for $18.5 million.
Meanwhile, Jennifer Lopez, who has long owned a home in Water Mill, and her husband Ben Affleck were not far down on the list thanks to their $60.85 million purchase of a new home in Beverly Hills. The 38,000-square-foot modern estate offers 12 bedrooms, 24 bathrooms and a 12-car garage.
Lopez made the list twice, this time for selling her Bel Air mansion for $33,950,000 in October.
“What stands out in these transactions is the broader impact beyond the glittering facade of celebrity lifestyles,” a spokesperson for Agent Advice said. “It’s not merely about acquiring extravagant homes – it signifies a cultural shift where musicians actively contribute to redefining the essence of upscale living. These musicians are not just trendsetters but critical players in a dynamic market, marking 2023 as a pivotal year in the convergence of entertainment and high-stakes real estate.”
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